2024 Fuel Price Shifts in South Africa: Updates on Petrol, Diesel, and Gas Prices from 2023 to 2024.

Updated on March 3, 2024

Discover the 2024 updates on fuel prices in South Africa, covering changes in petrol, diesel, and gas prices from the previous year. In this discussion, we’ll not only delve into the actual price shifts but also explore the factors influencing the pricing system. This article provides current data and offers a comprehensive look at the information available.

Fuel Price Changes 2024

Fuel prices in South Africa vary between states primarily due to diverse taxes and subsidies imposed on fuel. In 2024, there’s an expected increase in petrol and diesel prices aimed at fostering stable environmental conditions within the country. The government makes changes to petroleum products like petrol, diesel, paraffin, and gas on the first Wednesday of each month.

Several factors influence the fuel pricing mechanism in South Africa. The final calculation, authorized by the Department of Energy (DOE), is carried out by the Central Energy Fund (CEF). The international aspect impacting pricing is the Basic Fuel Price (BFP). New fuel prices, effective from February 8th, will come into effect in the state.

South Africa Petrol

In January 2024, petrol prices experienced a decline, attributed to a 26c/l reduction in the state levy. The significant contributors to petrol prices in South Africa are the general fuel levy and the road accident fund, accounting for nearly half of the total. South Africa predominantly relies on importing crude oil, which is then refined to produce petrol.

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In 2006, South Africa implemented a complete ban on leaded petrol to safeguard the health of its citizens. Although leaded petrol is favored for its anti-knocking properties in vehicle engines and has a sweet and pleasant odor, its usage poses health risks, particularly to the developing brains of children.

Types Of Petrol

There are two types of petrol: leaded and unleaded. Leaded petrol contains lead elements. Advancements in technology have made unleaded petrol more environmentally friendly. Cases linked to lead petrol include common issues like memory loss in children and concerns about immature growth in reproductive organs.

To address these concerns, the South African government should take steps to promote the increased use of LPG and CNG gases. Many countries have already banned the use of leaded petrol. If you’re a traveler in another country and have a vehicle that runs on leaded gasoline, you might not be allowed to take it further due to these regulations.

Diesel and Gas Prices Changes from 2023 to 2024

Various factors, both external and internal, play a role in determining fuel prices. Externally, prices are influenced by the dollar price of crude oil, while internally, factors like transportation costs, levies, and taxes come into play. In January, diesel prices experienced a reduction, offering relief to all motorists. We’ve organized the prices for both years in a tabular format for your convenience. Take a look at the comparison.

Product

2023 Price

2024 Price

Diesel 0.005%

R22.16

R20.73

Diesel 0.05%

R22.40

R20.63

LPG Gas(Kg)

R34.46

R34.57

Diesel and gas prices undergo monthly fluctuations. The table reflects data for December 2023 and January 2024. As February begins, it’s noted that the prices are set to change on the first Wednesday of the upcoming month.

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How To Save Money On Gasoline?

Given the escalating cost of gasoline in South Africa, we’ve put together some tips to help you save your hard-earned money on fuel bills.

  1. Regularly check tire pressure and ensure timely vehicle servicing for a smoother drive and increased savings.
  2. Drive at a moderate speed, avoiding unnecessary accelerations, and plan your route in advance to steer clear of heavy traffic.
  3. Explore fuel stations in SA that offer driver reward programs.
  4. Opt for public transportation like buses and trains for long-distance travel; consider using a bicycle for shorter distances.
  5. Turn off car air conditioners when not needed, as using them can increase fuel consumption.
  6. Avoid carrying unnecessary weight in your car during travels.

By implementing these practices, you can make significant fuel savings. Additionally, information on government programs designed to help you save on petrol prices is available on our website; feel free to visit and learn more.

 

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